There are fundamental differences in the crypto- vs. tech-native theories of change. Tech focuses on hiring top talent, but borrows similar reward structures from both science and startups today. Crypto takes a more diffuse, networked approach to attracting talent and is more willing to reimagine basic structures like patents, IP, and even research... See more

Turns out research, development, manufacturing, and distribution of physical products is capital intensive, and that alone has kept a lot of early stage capital away from investing in such ideas. A decade or so ago, biotech early stage investors innovated by blending Series As and Bs into one bigger financing round to enable biotech startups to hav... See more